Key News & Views Emerging Market Corps

Ahead of the publication of the Fed\'s Beige Book tomorrow, markets are taking a breather and, in the European session, equities are finishing mostly unchanged. Credit markets continue to see some weakness, with the publication of Edcon\'s full year results today seeing a drop of more than three points on the 2015 FRN and the 2018 bonds, as the numbers were not that exciting. The company continues to disappoint in its ability to address its high leverage, even after the Absa securitization deal last year. We issued a trading idea on Cemex today, as the market weakness offers an attractive entry point for a short-term trade. Tomorrow will see the results of Cosan and on Friday, Agrokor will be talking to investors on a call, following their result publication. The rating agencies confirmed their ratings on Axtel (Fitch), Brasil Foods (S&P) and Suzano (S&P). JBS is announcing some local currency bonds. Foodcorp announced the disposal of its fishing division, on which the company has been working for some time.